Bitcoin hovers near $71,000 as crypto investors track macro and liquidity signals

Over the past 24 hours, Bitcoin and Ethereum slipped 0.17% and 0.43%, respectively. Among major altcoins, BNB, XRP, Solana, Dogecoin, Cardano, and Hyperliquid declined by up to 2.20%, while Tron bucked the trend, gaining 1.48%.

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Nischal Shetty, Founder, WazirX, said Bitcoin is trading around $70,000, a positive sign given that it’s the current resistance level. The market saw a consolidation phase between roughly $64,000 and $72,000.

At the moment, Bitcoin is attempting to stabilise within this range while investors monitor macro developments and liquidity conditions. While on-chain activities remain robust, retail users are trading cautiously, with experts predicting a normal retail activity rebound if Bitcoin sustains the upward momentum to reach $75k and beyond, Shetty further said.

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In the past week, Bitcoin and Ethereum surged 4.62% and 6.41%, respectively. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Cardano, Tron and Hyperliquid gained up to 22%.
Bitcoin briefly moved above the $73K level, previously its recent swing low, but failed to sustain the momentum, and at the peak, the price quickly pulled back by around 3.4%, said Piyush Walke, Derivatives Research Analyst, Delta Exchange
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Walke further said that a similar move was seen in Ethereum, which rose close to $2,200 before retreating roughly 4%, and the rejection near $73K suggests Bitcoin is encountering short-term resistance following its recent rally.

He also said that U.S. stock markets are also posting modest gains of about 0.5%, while equities point to a slightly improved risk environment, the broader crypto market appears to be pausing as traders reassess momentum ahead of the next potential directional move.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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